(i) Profit = (Income $ - $ Expenditure) (ii) Profit per cent = (Profit/Expenditure $ \times $ 100) (iii) Loss = (Expenditure $ - $ Income) (iv) Loss per cent = (Loss / Expenditure $ \times $ 100) Combining June and July, what is the loss per cent incurred by the businessman in these two months together?
A) 30%
B) 50%
C) 40%
D) 45%
E) 36%
Correct Answer: C
$ \therefore $ Loss% $ =\frac{480}{1200}\times 100 $ = 40%